Indonesian Ambassador to Korea to Meet Domestic Business Leaders on the 27th

Ambassador Umar Hadi Meeting
Request for Trade Expansion and Investment Plans

Federation of Korean Industries

[Asia Economy Reporter Dongwoo Lee] Umar Hadi, the Indonesian Ambassador to Korea, plans to meet with Korean businesspeople operating locally to explore economic cooperation measures between the two countries amid the COVID-19 pandemic.

According to the business community on the 22nd, Ambassador Hadi is scheduled to meet with Korean businesspeople at the Federation of Korean Industries (FKI) building in Yeouido on the 27th to request active local investment plans aimed at expanding bilateral trade. Ambassador Hadi is expected to introduce business-friendly policies to strengthen investment in Indonesia in the post-COVID-19 era and convey the intention to promote close cooperation between companies of both countries in sectors such as the tourism industry.

According to the Korea Trade-Investment Promotion Agency, Indonesia recorded a record trade deficit of $8.57 billion (9.6 trillion KRW) in 2018, and recovery has been slow since then.

Kwon Tae-shin, Vice Chairman of the FKI, plans to request Ambassador Hadi to actively support Korean companies affected by COVID-19 operating locally. Additionally, about 20 major Korean companies operating in Indonesia will attend to raise management difficulties. Representative Korean companies operating there include the Korindo Group, which started in 1969, as well as Samsung Electronics, LG Electronics, CJ, Lotte Mart, and SK Energy.

A business community official said, "Recently, major Korean companies have been relocating production lines to Indonesia, and the local government is actively striving to attract investment from our companies," adding, "We are looking forward to specific measures from the Indonesian government regarding this matter."

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